Could you please re-explain that concept of sellers turning into buyers and old support turning into new resistance.
I noticed in Diary 21 that you explained the exact same setup that happened on Thursday [B]but I seem to remember
you saying somewhere that you like to take no supply that have low volume and are not exactly on the s/r line[/B].
This is what I want you to explain.
In Diary 21 you say this is an out of the ordinary setup - should I stick only to the normal setups?
If Iām shorting, I donāt look for the ND at the high price, but as price pulls off the high. This is normal procedure. They are also good at a first level of support after weakness, where itās logical to test for buyers. I think thatās what your asking.
Without checking whatās in Diary 21ā¦yes stick to normal setups if you are still learning. Donāt get fancy until you have experience.
Pete and others, can you review my analysis on AUDUSD?
The pair has been in an uptrend for a while now, and now we had a retracement to the 50/61.8 FIB area of this last up leg, better seen in the daily chart:
Going down to H1 chart, I see that FOMC bar yesterday (with ultra-high volume) went through the area but closed back in with a bullish reaction, and during (my) night, price pushed through the AR, and then tested it again:
So in my opinion this is a valid push and test pattern. Itās just 9:00 AM GMT at the moment, and all this pattern happened during the night, would be correct to enter now as soon as a NS pattern shows up on a lower timeframe?
Got 15 pips my way early, but with a lot of volume, so after the following pin I closed 2/5 of my position with a profit of 10 pips. Still running with 3/5 with a very thin profit so far. I will probably decide what to do based on this hourly bar close and volume.
just wanted to know, how do you draw your support and resistance lines, do you draw them from the wicks of candles or from the bodies.
I currently draw them from the bodies, and wanted to make sure thats correct, for this method.
sorry if this seems like a silly question, but i just want to make sure i am doing everything correctly.
FOMC is news released by the Federal open markets Committee, which is quite high impact news. The FOMC bar is the bar at the same time the news came out. It will be quite high in volume and spread between its high and low will be unusually large compared the the ones adjacent to it. Not a great time to enter a trade just before high impact news.
Thanks for the video. The same exact trade could have been taken on EURUSD for what matters: channel, high volume reaction on the lower part of the channel, and no supply.
The current phase looks like accumulation.
First, thank you for sharing and introducing the VSA method to me/many of usā¦Iāve been trading three years and tracking this thread for about 2-3 months. Iām kind of getting a grasp on it. After spending hours upon hours with other methods, I see with your track record, that this is worth learning and that I can get it down. Anyhow, I searched this thread high and low for what looks to be an indicator on your chart. It looks like a faint shadow of horizontal volume on the candle stick charts. For example, looking at the chart you posted, you can see it starting at the white dotted line (period separator) on the left side of the image. Is that a special indicator or some sort of volume indicator, and did you or someone post it? Anyone feel free to reply.
